Bill payments facilitator Techprocess Payments Services is targeting to increase the gross transaction value (GTV) from government merchants to Rs 100 crore a day, from Rs 81 crore in financial year 2015-16.

The introduction of the Bharat Bill Payment System — the company has received an in-principle nod to operate as a Bharat Bill Payments Operating Unit — may also help in achieving the target. (Source: Website)

Bill payments facilitator Techprocess Payments Services is targeting to increase the gross transaction value (GTV) from government merchants to Rs 100 crore a day, from Rs 81 crore in financial year 2015-16.

It has tied up with 700 government merchants already and plans to raise it to 1,200 soon.

“With a large customer base and wide geographical spread, our association with government organisations will increase the number of transactions,” its chief executive Kumar Karpe said in a statement issued today.

It said last fiscal, it witnessed a GTV of Rs 24.55 billion a month and is targeting to increase it to Rs 30 billion a month for this fiscal.

The introduction of the Bharat Bill Payment System — the company has received an in-principle nod to operate as a Bharat Bill Payments Operating Unit — may also help in achieving the target.

“With increase in digitisation and use of technology, India will soon transform from a data-poor to data-rich country. Initiatives like Bharat-based payment system will help in data streaming and bring digitisation to maximum,” it said.

It added that the government announcement to bear the merchant discount rate on payments made to it through debit or credit cards and net banking will also be a big boost to get more customers into the fold.